The use of jewelry to accent and complement various styles of dress requires variety in the design and appearance of jewelry pieces. Thus, the most desirable wardrobes include many articles of clothing and/or jewelry, leading to considerable expense, in purchase as well as in upkeep and storage. Since the ornamental portion of a jewelry piece, such as a gemstone in a setting, often is the most dramatic element of the piece, and the most expensive element, it has been suggested that the versatility of jewelry can be increased, while expense can be reduced, by providing for the selective interchange of the ornamental portion from piece to piece. In that manner, a particularly prized ornament, such as a highly precious gemstone or arrangement of gemstones, can be secured, selectively, to any one of a variety of shoes, hats, clothing, pins, earrings, bracelets, necklaces and the like, thereby increasing the versatility of the gemstone while at the same time reducing the expenses of purchasing and maintaining a complete and flexible wardrobe. However, the interchangeability accomplished by the prior art structures are mostly for the convenience of the commercial supplier of jewelry, and not necessarily for the placement of a more versatile wardrobe in the hands of an individual end user. Consequently, the suggested constructions are relatively complex and are not easily operated by the person who will wear the jewelry.